The event was scrapped after the Foundation’s funding proposal did not secure the two-thirds DRep threshold needed for treasury approval.
Cardano has canceled its 2026 Summit in Singapore after the Foundation’s funding proposal failed to win the two-thirds DRep threshold required for treasury approval. The decision ties the event’s funding directly to Cardano’s on-chain governance process, where DReps (delegated representatives in Cardano governance) vote on treasury spending proposals.